Modine Manufacturing Company (NYSE:MOD) Stock Has Average Price Target of $320.14

Modine Manufacturing Company (NYSE:MOD) has received a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $320.14.

A number of research firms have recently commented on MOD. KeyCorp reiterated an “overweight” rating and set a $280.00 target price on shares of Modine Manufacturing in a research report on Wednesday, September 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Modine Manufacturing in a research note on Tuesday, August 25th. Oppenheimer increased their price objective on shares of Modine Manufacturing from $271.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Wall Street Zen cut shares of Modine Manufacturing from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Glj Research restated a “buy” rating and issued a $428.00 target price on shares of Modine Manufacturing in a report on Monday, June 1st.

Modine Manufacturing Trading Up 2.1%

Shares of MOD stock opened at $197.13 on Friday. Modine Manufacturing has a 12-month low of $111.18 and a 12-month high of $323.25. The company has a current ratio of 2.04, a quick ratio of 1.22 and a debt-to-equity ratio of 0.39. The stock’s 50-day moving average price is $198.70 and its 200-day moving average price is $231.30. The stock has a market capitalization of $10.47 billion, a price-to-earnings ratio of 74.11, a price-to-earnings-growth ratio of 0.64 and a beta of 1.74.

Modine Manufacturing (NYSE:MOD) last announced its quarterly earnings results on Wednesday, July 29th. The auto parts company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.26. The company had revenue of $874.10 million during the quarter, compared to analyst estimates of $878.69 million. Modine Manufacturing had a return on equity of 25.59% and a net margin of 4.28%.The firm’s revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 earnings per share. Equities research analysts predict that Modine Manufacturing will post 7.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MOD. QRG Capital Management Inc. purchased a new stake in Modine Manufacturing during the second quarter valued at approximately $248,000. Tidal Investments LLC boosted its holdings in shares of Modine Manufacturing by 52.6% in the 2nd quarter. Tidal Investments LLC now owns 159,453 shares of the auto parts company’s stock worth $42,577,000 after purchasing an additional 54,960 shares during the period. Engineers Gate Manager LP bought a new position in shares of Modine Manufacturing during the 2nd quarter valued at approximately $6,188,000. NewEdge Advisors LLC increased its position in shares of Modine Manufacturing by 213.6% during the 2nd quarter. NewEdge Advisors LLC now owns 1,270 shares of the auto parts company’s stock valued at $339,000 after purchasing an additional 865 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new stake in Modine Manufacturing during the 2nd quarter valued at $3,598,000. Hedge funds and other institutional investors own 95.23% of the company’s stock.

Modine Manufacturing Company Profile

Modine Manufacturing Company (NYSE:MOD) is a diversified thermal-management company that develops and manufactures products and systems for commercial, industrial, transportation, and building applications. Its solutions are designed to transfer and control heat, improve energy efficiency, and support the operation of engines, vehicles, data centers, and other equipment.

The company operates through businesses focused on climate solutions and performance technologies. Its products and services include heat exchangers, cooling modules, radiators, charge-air coolers, heating and air-conditioning systems, refrigeration and data-center cooling equipment, and thermal-management solutions for electric vehicles and other specialized applications.

Founded in 1916, Modine serves customers in markets worldwide through manufacturing, engineering, and sales operations across North America, Europe, and Asia.